Temporary life insurance in the United States works for a certain period. It is usually between 10 and 30 years.

For example, a young man of 25 years acquires an insurance policy for a period of 20 years. In this way, life insurance will work for the next 20 years and the payments will remain the same for the entire term. After 20 years, when the insurance period comes to an end, the insurance will expire altogether or it will be offered to continue insurance at a higher cost (It depends on the insurance company).

As long as the premium is paid, the insurance works. This type of insurance does not have a funded part. As soon as the payment stops, the insurance will end.

As a rule, insurance companies give 30 days to make the missed payment. The missed payment must be made within this period so as not to lose the insurance policy.

Temporary life insurance in the United States is the most inexpensive way to insure your life for a large amount.

That is why this method of life insurance is most suitable for young people who have large financial obligations and a lot of expenses:

Small children

Other people who are dependent on you: parents, wife/husband

Home Loan

Car loan

Other debts

In addition to paying compensation in the event of death, some insurance companies offer a very important additional bonus. Living benefits are an opportunity to receive a payment in the event of a serious illness: terminal, chronic or critical. For example, a heart attack, a stroke.

As a rule, people who have such serious health problems need special care. At the same time, they do not have the opportunity not only to work, but also to lead their usual lifestyle.

Illness payment is a serious support in a difficult moment in life. This payment can be spent on anything, no report is required for the insurance company